On December 31, 2021, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $46,500 and $1,550, respectively. During 2022, Coolwear wrote off $550 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $5,700 at December 31, 2022. Bad debt expense for 2022 would be:

$4,700

Explanation:

Calculation to determine what the Bad debt expense for 2022 would be:

Using this formula

2022 Bad debt Expense =Allowance for uncollectible accounts-(Balance in Allowance for Uncollectible Accounts -Accounts receivable written off)

Let plug in the formula

2022 Bad debt Expense$5,700-($1,550-$550)

2022 Bad debt Expense=$5,700-$1,000

2022 Bad debt Expense=$4,700

Therefore Bad debt expense for 2022 would be:$4,700

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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